Rent in Seoul is keeping up with those prices. One closet is about $500 per month and for $700 a month you can even fit a shower stall in the closet. When I was a kid Vancouver was like the wild west. My Korean friend's kids live there now. They should be coming home for Summer break soon.
!PIZZA
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The rent price in Seoul is expensive as well, but the further away you are from the city center, the more affordable houses you can find. Especially in Busan, where I came from, the rent is way cheaper than in Seoul. You can rent a similarly sized apartment for 1/4 to 1/5 the price of Vancouver. However, in BC, even in a small city like Nanaimo where you have to take a boat for two hours from Van, the rent price is not that different from Vancouver. On the other hand, in Korea, the farther you go into the countryside, the cheaper the rent is.
It seems like all of Canada is expensive. Here at least you can get on a KTX and find some reasonable properties. Cool. Enjoy your summer.